Financial Aid

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Illinois College Financial Aid

Illinois Resources

Illinois Board of Higher Education

The mission of the Illinois Board of Higher Education is premised on the conviction that higher education provides the foundation for Illinois’ future by enhancing the social, economic, and civic well-being of the state and its residents.

Website: http://www.ibhe.org/default.htm

State History

The State of Illinois was the 21st to be admitted to the Union. Illinois is the most populous and demographically diverse Midwestern state and the fifth most populous in the nation. With Chicagoland in the northeast, small industrial cities and great agricultural productivity in central and western Illinois, and natural resources like coal, timber, and petroleum in the south, Illinois has a broad economic base.

Scholarships

General Assembly Scholarship

You might be able to pay for tuition with the General Assembly Scholarship if you are enrolled at an Illinois four-year, state-supported college and meet the eligibility criteria set by your legislative member.

Contact the General Assembly member from your district for more information. Applications are available from your state representative or the senator in your district. Contact the county election board if you are unsure of your district’s state representative or senator.

Further information about the General Assembly Scholarship is provided at the Illinois State Board of Education's Illinois General Assembly Legislative Scholarships page.

Scholarship Chicago College Bound Scholarship for High School Juniors

The College Bound Scholarship is for students entering their senior year of high school. It provides for a year of college prep, a three-tier mentoring system and up to $10,000.00 in college "gap" scholarships, and exclusive internship opportunities.

For more information, please visit http://www.scholarshipchicago.org.

Daniel Murphy Scholarship Fund

The Daniel Murphy Scholarship Fund (DMSF) is a non-profit organization that provides four-year high school scholarships and educational support services to economically disadvantaged Chicago eighth grade students who demonstrate academic potential in order to ensure they are properly prepared for college.

The Mellinger Foundation

The Mellinger Foundation awards scholarships to undergraduate students who attend accredited colleges and universities or accredited and/or recognized vocational schools within the United States. Tthe Foundation devotes a major portion of its resources to providing scholarship and loan assistance to young men and women from western Illinois who attend colleges and universities throughout the nation. For more information, please vision http://www.mellinger.org/

State Grants

Higher Education Cooperation Act is designed to promote effective use of resources though cooperation among institutions, to achieve an equitable distribution of education services, and to develop innovative concepts and applications. The grants go to both public and private institutions. Cooperation, as defined by the statute, involves at least two higher education institutions, and should be designed to serve a public purpose, while promoting effective use of educational resources, the equitable distribution of educational services, and the development of innovative concepts and applications. (Competitive program)
The Diversifying Higher Education Faculty in Illinois Program (DFI) was established by the Illinois General Assembly and signed as Public Act 093-0862 on August 4, 2004. This act combines the Illinois Consortium for Educational Opportunity Program (ICEOP) and the Illinois Minority Graduate Incentive Program (IMGIP) into a single fellowship program. The purpose of DFI is to increase the number of underrepresented faculty and staff in Illinois institutions of higher education and higher education governing boards.
Illinois Cooperative Work Study Program provides grants to both public and independent colleges and universities and is designed to enhance public-private sector partnerships, expand internship opportunities, reduce student reliance on loans, encourage permanent employment of Illinois graduates in Illinois, and provide links between academic programs and employment. (Competitive program)
State Matching Grant Program offers incentives for Illinois colleges and universities in the competition for federal research grants and contracts. Federal agencies increasingly require institutions to match funds for project to demonstrate state and institutional commitment. To be eligible to receive state matching funds, institutions must engage in research projects through an open and competitive process of merit review and must be committed to provide the specified matching contribution for basic or applied research activities. Grants are made to support new research projects. Allocations are determined by successful performance in prior year research and development. (Competitive program)
Health Services Education Grants Act go to nonpublic, not-for-profit institutions with programs in medicine, dentistry, optometry, podiatry, allied health, pharmacy, nursing, and medical residency. Allocations are based on the enrollment of Illinois residents.
The he Nursing School Grant Program purpose is to increase the number of registered nurses graduating from Illinois institutions of higher learning. The Nursing School Grant Program will award grants in 2 categories: Expansion Grants and Improvement Grants. Eligible nursing programs include Associate Degrees in Nursing (ADN), Registered Nursing to Baccalaureate Degree Completion Programs (RN-BSN), and Baccalaureate Degrees in Nursing (BSN). Programs must meet accreditation requirements and other eligibility criteria. Expansion grants and Improvement grants shall be determined in a competitive process and will be awarded on the basis of NCLEX-RN pass rates and other performance criteria. Expansion Grant funds may be used to hire faculty, develop new programs and increase classroom space to expand capacity. Improvement grant awards will be much smaller award amounts and may be used to purchase classroom materials, increase academic support services, or make curriculum modifications to increase retention and licensing exam pass rates.

What other Grants are available?

State Loans

College Illinois! Capstone Loan Program (Pilot)

Beginning with the 2007-08 academic year, college seniors who are enrolled at institutions participating in the College Illinois! Capstone Loan pilot program may be eligible to borrow money to help them complete the final semester(s) prior to graduation. The Illinois Student Assistance Commission (ISAC) has designed this new alternative loan program to help the students of Illinois c omplete their undergraduate degree programs. It provides major benefits for borrowers who pursue crucial but lower-paying jobs (such as teachers or social workers) in Illinois

How to Evaluate a Loan?

What other loans are available?

529 Plans

The state of Illinois offers three flexible investing options to assist families in planning for the future education of a child or loved one.

1) Bright Directions College Savings Program

The Bright Directions College Savings Program opens doors of opportunity for your child or grandchild. It applies to schools nationwide and provides tax-savings advantages and multiple investment choices.

Program type: Savings

How to enroll: ll directly with the program.

State residency requirements: None

Benefits - Tax Exemptions: Yes

Benefits - Tax Deductions: Yes

Benefits - Matching Grant: No

Phone: 866-722-7283

Website: www.brightdirections.com

2) Bright Start College Savings

Bright Start is a Section 529 college savings plan sponsored by the state of Illinois and sold nationwide. It is a tax-advantaged way for families to save for the future costs of higher education.